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Jan 1, 2013
01/13
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the so called fiscal cliff but the deal still needs approval in the lower house of representatives and it is there that the debate continues. >> in new york's times square the clock ticked down to midnot, not just to the beginning of the new year but a deal to avoid catastrophic tax rises and spending cuts. few here are engaged by economics but failure could be an unhappy and unlucky 2013. the senate missed the deadline by hours but they did vote on a deal put together by the vice president joe biden, better late than never they backed the compromise. >> the bill as amended is passed. >> the republican leader defended his deal with the democrats. >> it took an imperfect deal to prevent a real financial pain. but in my view twas worth the effort. >> the deal he is talking about would mean a higher tax rate for families earning more than $450,000 a year, fewer than 1% of americans. unemployment benefits for 2 million americans would be extended and more than $100 billion worth of spending cuts would be delayed two months. the republican dominated house of representatives yet to give thei
the so called fiscal cliff but the deal still needs approval in the lower house of representatives and it is there that the debate continues. >> in new york's times square the clock ticked down to midnot, not just to the beginning of the new year but a deal to avoid catastrophic tax rises and spending cuts. few here are engaged by economics but failure could be an unhappy and unlucky 2013. the senate missed the deadline by hours but they did vote on a deal put together by the vice...
WHUT (Howard University Television)
95
95
Dec 31, 2012
12/12
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WHUT
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politicians on a deal to avert the so-called fiscal cliff going down to the wire. what are the chances of a deal before the deadline? we have a senior economist at west bank in london and he said he did not have high hopes. >> it is looking unlikely, on inheritance tax, and when the income tax hikes should cut income at what income level. it really remains intractable on both sides. what will happen is the negotiations will continue in the new year after some of these measures have been imposed, but the market reaction to the failure of politicians to agree i think will force them to sharpen their negotiating pencils and actually come to some sort of agreement. it will not fully offset the fiscal cliff, but will mean the drag from the government sector on the economy into thousand 13 will not be -- in 2013 will not be as recessionary threatening. >> is down so dramatic, falling off the fiscal cliff. is it as bad as that? what it is in a four-year since. 3% to 4% of gdp will be pulled out of the economy a reduction in government spending, increased taxes. the u.s. e
politicians on a deal to avert the so-called fiscal cliff going down to the wire. what are the chances of a deal before the deadline? we have a senior economist at west bank in london and he said he did not have high hopes. >> it is looking unlikely, on inheritance tax, and when the income tax hikes should cut income at what income level. it really remains intractable on both sides. what will happen is the negotiations will continue in the new year after some of these measures have been...
WHUT (Howard University Television)
90
90
Dec 28, 2012
12/12
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WHUT
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this fiscal cliff was last in august of 2011. it has to do with the debt ceiling. it so happens the debt ceiling will be reached on december 31, or will it? because it appears the treasury said we found a bit of extra money so maybe we can keep things going a bit longer. and it won't cause the crisis immediately, and if these tax rises and spending cuts came into effect, they could be repeeled during january. but if they weren't, the momentum that has been very painstaking pumped into the economy could be devastating. >> this morning you see stock markets in asia and europe up a bit. i think their expectation that washington will come to an agreement, i think that might be too early. i think this is still a very clear possibility that they could allow the deadline to pass and resolve this sometime in the middle of january. >> well, any red lution would be welcome. the cost as well, but these spending cuts and the tax rises effectively, the end of the tax concession, that's automatic. >> that is automatic yes but there is question where the money can be found if you
this fiscal cliff was last in august of 2011. it has to do with the debt ceiling. it so happens the debt ceiling will be reached on december 31, or will it? because it appears the treasury said we found a bit of extra money so maybe we can keep things going a bit longer. and it won't cause the crisis immediately, and if these tax rises and spending cuts came into effect, they could be repeeled during january. but if they weren't, the momentum that has been very painstaking pumped into the...
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Dec 31, 2012
12/12
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president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people deserving far better and we will be scrambling to find budget reductions in we can understand. >> we are upon the fiscal cliff. will we need to focus on is how we find that common ground. ira by -- i believe republicans and democrats alike want to put us on the course to fiscal discipline. >> we are running at a time. americans are threatened with a tax hike in just few hours. i hope we can keep in mind that our single most important goal is to protect middle-class families. >> democrats and republicans in congress have to get this done but they are not there yet. they are closed but not there y
president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people...
577
577
Jan 1, 2013
01/13
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KQED
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president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people deserving far better and we will be scrambling to find budget reductions in we can understand. >> we are upon the fiscal cliff. will we need to focus on is how we find that common ground. ira by -- i believe republicans and democrats alike want to put us on the course to fiscal discipline. >> we are running at a time. americans are threatened with a tax hike in just few hours. i hope we can keep in mind that our single most important goal is to protect middle-class families. >> democrats and republicans in congress have to get this done but they are not there yet. they are closed but not there y
president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people...